SEOUL — Choo Kyung-ho, South Korea’s finance minister, visited an expansive Samsung Electronics facility south of Seoul last Friday to check out semiconductor production lines operated by the global tech giant, the dominant force in the country’s economy and a source of pride for many of its citizens.
“Semiconductors are called the rice of industry, but I think they’re a lifeline beyond rice,” Choo, who is also a deputy prime minister, told Samsung CEO Kyung Kye-hyun and other executives, using the country’s staple food as a metaphor. “If there are no semiconductors, neither our economy, nor our industry can run.” His remarks were shared by the Ministry of Economy and Finance.